Is SunX Energy a Scam?

WARNING WARNING !!!!

I went to the SUNX Energy Inc. headquarters 19889 96th Ave. Langley, B.C. V1M3C7 604-888-6101. I went there under the understanding that I was meeting with them to talk about purchasing a plant franchise. When it was time for me to be picked up there was a group of investors waiting for the same meeting as me. SUNX shuttled all of us the Sunx headcounters that was in a shopping center. Behind a car repair shop. I listened to the pitch that was given to all of us by the salesman named Chris Mackenzie “Vice President” Sunx Energy Inc and it was very interesting. The other potential investors that were at the same meeting as I were very intelligent and came from a variety of different background, one potential investor was a Bio chemist; another was from the ethanol industry. SunX answered all the questions and concerns we all had. They had an answer for anything we asked. But at the same time they would give a discloser leaving them a way out. We were not allowed to tour the area where they were working on the Algae. They did take us to another place were another company they owned made the equipment they we were going to use in our plant. The funny thing was they had broachers at the front desk when we all walked in, that showed what price they were selling the same equipment they were selling us but it was much less than what they wanted us to pay. We were told that they were about 45 days away from signing a deal with VeraSun Energy they are one of the largest ethanol producers in the U.S. The reason SunX is trying to get the deal with VeraSun Energy was because they want to use distillers grain “the byproduct of ethanol” to extract the oil from it and use it to make Biodiesel Fuel. Then we were told they were working on the algae to oil but it was not ready yet and it “SHOULD” be ready within 5yrs. Our Plants in the begging were to processes the oil that SunX got from the distillers grain from VeraSun Energy. And after the algae to oil was ready to go, they would then use it instead of the distiller’s grain. There were many red flags that jumped out at me about SunX after the meeting I had with them. I believe most of the other potential investors at the same meeting as I was, went away unsure. I will do my best to list all the things keeping me from sending them any money. We were told at the meeting how James Stephenson is one of the owners and had written some books about business. So I looked up what books he wrote and one of them was “202 things you Can Buy and Sell For Big Profits. Here is the link http://www.amazon.com/exec/obidos/search-handle-url?%5Fencoding=UTF8&search-type=ss&index=books&field-author=James%20Stephenson . He was selling us just a business idea. The most important thing that made me say no was that they told us they were 45 days away from signing a deal with Verasun Energy to buy all the distillers grain from them. That is the KEY to making this work. Without a source to get the oil the plants were not going to be making any biodiesel fuel anytime soon. I wanted to know more about if SunX could get the distillers grain or any other product to make to Biodiesel fuel so I got on the internet and started reading about Verasun and to see if I could find anything linking SunX to Verasun Energy. Remember we were told that they were 45days away from signing a deal with Verasun. What I found was that Verasun Energy On March 31, 2008, bought US BioEnergy Corporation so they could make Biodiesel fuel. All the distillers grain produced from Verasun seemed to be going to BioEnergy Corp because Verasun Energy owns BioEnergy. The whole reason it seems Verasun Energy bought BioEnergy was to make biodiesel fuel. I don’t see how SunX is claiming they are 45days away from inking a deal with Verasun to buy all the distillers grain when Verasun just bought their own Biodiesel Company. Here are some links
http://sg.us.biz.yahoo.com/e/080404/13323418-k.html
http://sg.us.biz.yahoo.com/e/080404/13323418-k.html
http://www.wikinvest.com/stock/Verasun_Energy_(VSE) http://www.verasun.com/PDF/2007EthanolFactBook.pdf
Ok let’s go past the fact that Verasun now has its own biodiesel company, I don’t believe that SunX can come up with the amount of money needed to buy the distillers grain for over 100 plants. Even if they got it at an unbelievable price it would cost SunX over 200million dollars. I did see a nice Black H-1 at the company that makes the equipment that SunX Owners also own. And a nice Rolex on his arm but the last I checked SunX is 3yr old company so I doubt very much they have that kind of money. They made it real clear that when we gave them the 50,000 deposit that they were to use the money for SunX that means into the pockets of the owners. I wish they were for real and I may be wrong. If anyone can prove me wrong or show me that they can do all this please let me know. But as of now, I see too many holes in the story they give.